Several high-profile auto-tech companies have announced plans this year to go public via special purpose acquisition companies.
March 3: Nikola Motor Co. announces its intention to go public via a merger with VectoIQ. The deal, valued at $3.3 billion, closes on June 3.
June 19: Hyliion, an electric vehicle powertrain supplier for Class 8 trucks, says ?it will merge with Tortoise Acquisition Corp., with a valuation of $1.1 billion. The deal is expected to close by Sept. 30.
July 2: Velodyne, maker of lidar sensors that help autonomous vehicles perceive their surroundings, says it will merge with Graf Industrial Corp.
July 13: Fisker announces a merger with Spartan Energy Acquisition Corp., in a deal that values the company at $2.9 billion. Fisker says the deal will enable it to bring its Ocean SUV to market by the end of 2022.
Aug. 3: Lordstown Motors says it will merge with DiamondPeak Holdings Corp., at a valuation of $1.6 billion. The deal is expected to close in the fourth quarter.
Aug. 18: EV company Canoo says it will go public via a merger with Hennessy Capital Acquisition Corp. IV. The company expects to deliver its first model to consumers in 2022.
Aug. 24: Lidar company Luminar announces ?it will go public via a merger with Gores Metropoulos, at a valuation of $3.4 billion. Investors include Volvo Cars Tech Fund, PayPal co-founder Peter Thiel and VectoIQ. The deal is expected to close in the fourth quarter.
Sept. 3: Battery maker QuantumScape announces plans to go public with Kensington Capital Acquisition Corp., in a deal that values the company at $3.3 billion. Solid-state battery production is expected to begin in 2024.